What is the Ichimoku MACD indicator?
The Ichimoku MACD indicator for MT4 is one of the best MT4 indicators around. This indicator has been the basis for many successful trading strategies.
In an attempt to apply some market sentiment indications to it the indicator has had Ichimoku concepts applied to it’s core values.
Instead of re-writing an article on how to use Ichimoku, I suggest you have a look at many reputable sources of information available on the internet, including Youtube.
On the example chart, please note a basic view on the movement, just to give you an idea of how one may read the Ichimoku MACD Indicator.
To find out more about the Ichimoku Kinko Hyo – Watch the below video
How does the Ichimoku MACD indicator work?
This indicator itself uses the same auto shading code that is used to make shades float. You will need to allow dll’s in the MT4 platform for that to occur and wait for a new tick. Alternatively right click and edit without changing anything, then close again on a static chart for clouds to float.
The Ichimoku MACD indicator is dealing with positive and negative values in MACD. Because of this it is constrained with the amount of buffers that it can use to allow shading for every possibility.
This means that while you will always see the Senkou A and B lines, (Boundaries of the Kumo Clouds). When the zero line crossovers occur, a small amount of shading is cleared. Nothing to worry about but worth mentioning.
For me this is quite a new way of confirming MACD when using the Ichimoku MACD indicator. It is a bit of a learning curve but a very worthwhile. I believe this indicator would filter out alot of the false trading signals.
Initially I just ran the M5 and M15 strategy in testing. It is very surprising how well this strategy tells the story. The definition of the Ichimoku means “at one glance”. Certainly this is one of the best MT4 indicators involving the Ichimoku and MACD indicators for Metatrader.
Use this amazing Ichimoku MACD indicator for MT4 with the Waddah attar and you will be a day trader to be reckoned with. Good luck!